“Don’t design a Ferrari if you only need a bicycle.” This wise advice came from a compliance leader during a presentation at Rsam’s annual User Conference (September 22, 2016). The analogy underscored the lessons he and his team learned while trying to implement an escalation management system.
The company provides financing for home improvement projects. They deal with thousands of contractors and subcontractors and tens of thousands of homeowners. They needed a better way to manage escalations to protect homeowners and complying with different local and state regulations.
Initially, the company tracked escalations using a tangled web of spreadsheets. As their growth skyrocketed, they knew manual processes couldn’t scale. Also, spreadsheets didn’t provide them with a way to identify trends, track real-time project status, and efficiently prioritize escalations.
The company’s compliance leader was challenged to find a solution that could accommodate their use case. It had to be flexible, quick to deploy and have low administrative overhead. Ultimately, they wanted to be self-sufficient; without the need to rely on costly services to implement or make changes to their solution. With clarity around their mission, the team realized they had to scale back their original scope of work, which was over-designed, and focus on what was most important.
The compliance leader set new marching orders: Get a minimal, viable product deployed quickly and iterate from there. They were able to build and deploy their custom use case on the Rsam platform in less than four months.
The company’s escalation management solution has been in production for nearly a year. According to the compliance leader, it empowers them to track risks and trends, and tie everything back to their policies. Now they can quickly report on their highest risks and take corrective action.
The advice is worth repeating: “Don’t design a Ferrari if you only need a bicycle.” It’s a common mistake organizations make when designing a GRC solution. There is a lot you can do but zero in on what you must do. The longer an implementation takes, the less likely it is to succeed. Start with a use case you can get up and running quickly. Once you have success, you can iterate until you reach your ultimate GRC goals.
Learn more about Rsam’s adaptable platform here.